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Economists have dismissed David Cameron’s call for consumers to pay off their credit cards as “astonishing” and potentially “disastrous”.

In his closing speech to the Conservative Party conference in Manchester this afternoon, Mr Cameron is expected to say that the only way out of a debt crisis is to deal with debts. “That means households — all of us — paying off the credit card and store card bills. It means banks getting their books in order. And it means governments all over the world cutting spending and living within their means,” the Prime Minister is expected to say.